home owner insurance cancelled!!!

I have not checked in a while but years ago I wanted to pay for a year
policy for the car and was told they only take 6 months maximum.
If you want to show proof of insurance then you can get it a month or 3
months at a time.

With most insurance companies there is no choice. Automotive policy's
are written as six month policy's only. This gives the insurance
company two "outs" a year in case you run over a bus full of pregnant
nuns or rack up a handful of tickets / dui's / accidents.
Steve B.

Not for long. They are starting to quote new policy holders with 6 month
premiums and will eventually convert the old policy holders. AIG just
finished doing that. (I just received a quote from GMAC for a 6 month policy
and they were high, very high)

$3000
Just where do you think the cutoff point is ? Say a $ 200,000 house. YOu
have a deductiable of $ 1000 or even $ 5000. What point do you file a claim
? Do it at a 10% loss, 25 % loss, or do you wait tuil it is the full 100%
?
I think if you have a $ 1000 deductable then anythinge much over that should
be filed.
The insurance company may not like it, but it is their bet against your bet.

No, insurance is supposed to cover you for losses above your
deductible. If you buy a low deductible (say $500) then the insurance
company will bill you a relatively high premium based on the
assumption that you will submit claims for losses over $500. To then
drop you when you do so is IMO a breach of an implied covenant. If
they do not like small claims (say $1600) over the deductible, then
whey are accepting payment on such a policy?
You pay for a high level of coverage and then they get mad when you
use it.
Well is legal, so they do it. The solution is to avoid low deductible
policies.

I disagree on the "implied" in the last statement--the insurer never
tells you up front "Oh, btw, if you happen to have reason to file a
claim for this policy we won't be renewing it." One assumes when doing
business that the offer is mutually beneficial for both parties and that
the offeror is under no more duress in making the offer than the
acceptor is in accepting.

Exactly. They had a one year term of mutual benefit. Term expired and
insurer decided it was not in his best interest to continue a relationship.
Happens in business every day. We've told a few customers we don't want to
sell to them any more. If the business it not profitable, we just won't do
it.

But would you do that if the customer had completely fulfilled the terms
and done so in good faith?
I'll grant the individual customer can be a pita--I had clients as a
consulting engineer that I did not accept further work from for similar
reasons.
I still believe that while I agree the end decision is one made on the
bottom line that there's a more devious mode of operation in play w/ the
insurance companies than in the way in which you or I would, as
individuals, be comfortable w/ as a way of doing business.
Illegal? No, in the most part. I still think often the insurance
companies are rewriting the rules to favor them far more than I think
conscionable. I still contend that the nub of their problem is that
they tend to underestimate potential liability in order to sell coverage
and collect premiums in a competitive marketplace and then have to
scramble to cover their losses. This, of course, is also a two-edged
sword in that we, as consumers, hunt for the cheapest premium we can
find. Think, however, of how many ads you've seen on the TV touting one
brand over another for both the best in service at cheaper than
competitors' prices. They're making their own bed as well.

I would and do. Sometimes we have customers that just aren't
profitable for us to service and so we have to stop servicing them.
At the end of your insurance year you are free to move to another
insurance company if you so choose. They should also be free to not
renew your insurance if they so choose.
Steve B.

Well I had two incident in six years. One of them was hurricane Irene
related, they HOI paid some $, and most damages were paid by windstorm, and
the other incident related to a pipe leak. now they refused to renew me.
So if I need to find another carrier I will be paying very high premiums?
This really sucks. I remember a friend of mine at the office, he was 56 at
the time, and had State Farm car insurance for TWENTY FIVE years, and one
day he told me he had an accident, and it was the second time in 25 years,
State Farm dropped him after 25 years!
MC
wrote:

....
But you could also choose offer to service them at whatever increased
rate you need and they could then choose to accept of go elsewhere...why
would you not do that unless there were other specific confounding
factors unrelated to simply cost?

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